FB Surges 6%: 3 out of 5 Days Up, Best Trend So Far

By Tiernan Ray

Shares of Facebook (FB) were strong all day today, but they really surged in the last two hours of trading, closing up $1.72, or a little over 6%, at $30.01 after briefly touching a high of $30.10. The stock enjoyed an 11% rise this week from last Friday’s close of $27.10.

And the stock enjoyed its best run so far in terms of the number of “up” days, when its shares were higher than the day before, rising 3 out of five trading days. That’s about the best rate so far since the May 18th IPO, beating the two up days of the prior week, just one up day the week before that, and two days the week before that.

The last five trading days have been the best run for FB as far as closing up from the prior close since the stock went public on May 18th.

I wanted to let you all know that I’ll be leaving Facebook later this summer. I’m sad to be leaving, but I’m excited to be starting a company with my friend Kevin Gibbs.

While a transition like this is never easy, I’m extremely confident in the teams and leadership we have in place. I’m very proud of our recent accomplishments in our platform and mobile products, from Open Graph and App Center to Facebook Camera and our iOS integration. I’m even more excited for the world to see all the amazing things these teams have coming.

I’ve learned more than I ever imagined in my time at Facebook. I’m also extremely grateful for my relationship with all of the amazing people I’ve worked with here.

I want to give a special thanks to Mark Zuckerberg. You’ve not only been my boss for the past three years, but my mentor and one of my closest friends.

Thanks to all of you at Facebook for the most incredible three years of my life.

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There are 4 comments

JUNE 15, 2012 6:00 P.M.

Jay wrote:

Selective disclosure of material information. That is a strict No-No for public companies. Zuckerberg & Co. need to be educated. FB, you have to do a press release for this or at least file 8K. You cannot simply update your Facebook page and tell your friends. Probably this was just ignorance. SEC regulators should take note though.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.